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loumud
3 Posts |
 Posted - 08/06/2008 : 3:40:42 PM
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***Looking for direct Hard Money Lender, no Brokers please***
Have a client building a 10,000 sq ft custon SFR in a high-end neighborhood in San Diego, CA. Looking for a $4.5M hard money loan to complete construction. Appraised completed value is $8.4M. Can go full doc, 700+ FICO, and the home will be OO after completion. Borrower has over $800K of his own funds into the project to date. Please let me know if anyone can help me out with this scenario.
Thanks! |
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KHufford
10370 Posts |
Posted - 08/06/2008 : 3:58:00 PM
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Well since you only want direct lenders, I cant help you.
If you dont find one, I have private money available at prime rates (6-7%) for this, if LTFV is really under 55%.
Or just take hard money 'direct' at 12%...
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dkendall1979
13276 Posts |
Posted - 08/06/2008 : 4:00:38 PM
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Email me and I'll get you a list of what will be needed to get a term sheet out.
quote:
Originally posted by loumud
***Looking for direct Hard Money Lender, no Brokers please***
Have a client building a 10,000 sq ft custon SFR in a high-end neighborhood in San Diego, CA. Looking for a $4.5M hard money loan to complete construction. Appraised completed value is $8.4M. Can go full doc, 700+ FICO, and the home will be OO after completion. Borrower has over $800K of his own funds into the project to date. Please let me know if anyone can help me out with this scenario.
Thanks!
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JohnCLukes
36 Posts |
Posted - 08/06/2008 : 4:18:32 PM
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This deal *****. I already saw this deal.
... La Jolla .. right |
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loumud
3 Posts |
Posted - 08/06/2008 : 4:21:19 PM
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quote:
Originally posted by JohnCLukes
This deal *****. I already saw this deal.
... La Jolla .. right
No, this one is in Rancho Santa Fe. I think I've seen the one you're talking about in La Jolla, though. |
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aaron1976
863 Posts |
Posted - 08/06/2008 : 6:30:42 PM
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If the file is truly full doc, I have rates like Kyle on this one. I also have hard money rates at 12% IO no PP 1-3 year term 4-5 points on my side. I am not a direct lender, but have the access to the sources. If you cannot find anyone I would be more than happy to help. Feel free to contact me anytime.
Aaron Cirlin
818-590-4288
aaronc1976@hotmail.com |
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ag957
600 Posts |
Posted - 08/06/2008 : 9:55:47 PM
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Tough loan but possible if numbers area accurate...be glad to take a look at the package. We fund hard money/private money loans up to $20M in California....no prepay penalties / competitive rates/fees.
Art Gilberg
Trust Deed Investments, Inc - Direct Hard Money
Tel: 415-760-2338
Email: agilberg@aol.com |
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